Lucintel Forecasts Smart Parking Market To Grow At A Cagr Of 18%

By Author: Lucintel LLC
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According to the recent study the smart parking market is projected to grow at a CAGR of 18% from 2019 to 2024. Growth in this market is primarily driven by increasing traffic congestion, development of smart parking infrastructure, stringent government regulations, easy accessibility of smart parking systems, and increased consumer preference towards comfort and luxury.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in smart parking market by system type (guided park assist, and smart parking), sensor technology (ultrasonic sensor, radar sensor, and image sensor), component (parking sensors, steering angle sensors, display units, and ECUs), vertical (government, commercial, corporate institutions, and transport facilities), solution (security & surveillance, valet parking management, parking reservation management, and license plate recognition), and region (North America, Europe, Asia Pacific, and Rest of World).
Download sample report and view detailed Table of Content by clicking on below link https://www.lucintel.com/smart-parking-market.aspx ...
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“Security & surveillance market is expected to remain the largest segment during the forecast period.”
Based on solution, the smart parking market is segmented into security & surveillance, valet parking management, parking reservation management, and license plate recognition. Lucintel forecasts that the security & surveillance market is expected to remain the largest segment.
“Europe will dominate the smart parking market in near future.”
Europe is expected to be the largest region over the forecast period due to the increased use of cameras and ultrasonic sensors in passenger cars. Cameras improve visibility of the surrounding of the car, and ultrasonic sensors alert the driver of obstacles around the car.
Download Brochure of this report by clicking on https://www.lucintel.com/smart-parking-market.aspx
Major players of smart parking market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Robert Bosch, Continental, Aisin Seiki, Valeo, Siemens, Xerox Corporation, and Cubic Corporation, and others are among the major smart parking providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/smart-parking-market.aspx or helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com

Contact:
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
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